GSTR-9 – Annual Return Filing, Format, Eligibility, Due Date

GSTR 9 is an annual return to be paid annually by the assessee below GST. Any facts need to be kept in mind, such as:

Which provides records on outward and inward supplies offered or completed during the previous year under various tax boards such as CGST, SGST & IGST, and HSN codes. It is a merger on all monthly or quarterly returns (GSTR-1, GSTR-2A, GSTR-3B) provided in a given year. It is, however, more complicated, but this return allows to change the data forever for 100% explicit declarations.

GSTR-9, which stands for Goods and Services Tax Return, is essentially an annual return form and is required to be filed by registered taxpayers at least once a fiscal year. This law under the GST Act, 2017, is enforced by the Government of India on persons and firms manufacturing goods/commodities and/or services. The GSTR-9 type provides details of deliveries made and received during the year. In this article, we will learn GSTR-9 – Annual Return Filing, Format, Eligibility, Due Date

GSTR-9 Format – What specifics are needed

Generally, the GSTR-9 annual return reporting form, which is supposed to be submitted by the claimant, shall include the necessary details as set out in the following:

* details of deposits, internal and external purchases and services made during the financial year on which tax is payable;

* Details of the outward deliveries made during the financial year on which tax is not payable;

* ITC definitions used throughout the financial year

* Details of the ITC inverted and ineligible for the financial year

* All ITC-related information

* Details of the tax paid as recorded in the returns received for the financial year;

* Details of transactions made in the previous financial year for the next financial year

* Discriminatory tax imposed on the basis of the statement in tables 10 and 11, respectively

* Simple demands and refunds;

* Supplies collected from the composition of the taxpayer, the supply considered by the worker and the products requested on the grounds of the approval;

* HSN is a clever definition of external supplies

* HSN is a clever definition of inward supply

* a list of the advances, internal and external supplies made during the financial year on which the tax is payable;

* details of the outward deliveries made during the financial year on which the tax is not payable;

* Maximum amount of input tax credit used in the GSTR-3B Type

* Production tax credits earned from the ISD

* Credit transition by TRAN-I (including revisions, if any)

* Credit transition by TRAN-II

* Details of the tax charged as declared in the returns submitted for the financial year;

Criteria for GSTR-9 Annual return for filing

As in several other important form filings, there are criteria that must be met in order for taxpayers to successfully file their annual GSTR-9 return form. The most important examples are as follows:

I Before filing the GSTR-9 annual return form, the taxpayer must have filed all the necessary returns, including Form GSTR-1 and Form GSTR-3B, for the relevant financial year.

(ii) The taxpayer is required to have an active Goods and Services Tax Identification Number (GSTIN) for that fiscal year.

Pursuant to the Regulations set out in the Goods and Services Tax (GST) Act, 2017, all licensed taxable entities are expected to file GSTR-9 for the relevant financial year.

The non-applicability of the GSTR-9 type includes:

* A taxpayer who opts for the system of structure of the GST

* Taxable non-resident citizen

* Casual taxable person;

* Distributor of input service

* The individual paying TDS pursuant to Section 51

GSRT-9 Annual Return Filing Date

The due date for the production of the GSTR-9 annual return shall be on or before 31 December of the following financial year. However, this date can be extended by the Government of India and told taxpayers from time to time.

There is also a penalty for late filing of the annual GSTR-9 return. As per the GST Regulations, the late charge imposed on taxpayers for not filing their GSTR-9 annual return form on time is Rs. 200, which is further raised on a daily delay and is subject to a cumulative cap of 0.25% of the overall turnover in the respective State or Union Territory (UT). Thus any 0.25% rise will amount to a penalty of Rs. 100, both under the Central Goods and Services Tax (CGST) Act and the State Goods and Services Tax (SGST) Act.

GSTR-9A Form of Annual Return Filing

GST-9A The form is usually expected to be filed by taxpayers who are enrolled under the composition of the GST system. Similar to the GSTR-9 form, the GSTR-9A form is also submitted once for each financial year by registered taxpayers.

GSTR-9A Format – What specifics are needed

Generally, the GSTR-9 annual return reporting form, which is expected to be submitted by the applicant, includes the requisite information as set out in the following:

* Descriptions of deliveries rendered during the financial year

* Details of inward supplies for which tax is payable on a reverse charge basis (net of debit/credit notes) for the financial year;

* Details of additional inward materials for the financial year

* Details of the tax charged as declared in the returns submitted for the financial year;

* The specifics of the transactions for the preceding fiscal year recorded in the returns of April to September of the current fiscal year or up to the date of filing of the annual return of the preceding fiscal year, whichever is earlier.

* Differential tax levied on the basis of the declaration made in 10, 11, 12, and 13;

* Other information-Particulars of claims and refunds

* Credit data reversed or used

Criteria for GSTR-9A Annual Return Form

There are also some pre-requisites for filing the GSTR-9A form in this situation. They are as follows:

I The taxpayer must be enrolled in the relevant financial year and may also have opted for a plan for the composition of the GST for a particular day in the financial year.

(ii) The taxpayer has filed, before filing the annual report, all applicable returns, which are GSTR-4 Type, a quarterly return of the relevant financial year.

GSTR-9A Form Filing Due Date Form

The due date for the submission of the GSTR-9A form shall be on or before 31 December of the following financial year. However, there is a likelihood that the date will be extended by the Government of India and the same will be informed to taxpayers from time to time.

Related to GSTR-9, there is also a penalty for late submission of GSTR-9A's annual return. As per the GST regulations, the late charge imposed on taxpayers for not filing their GSTR-9A annual return form on time is Rs. 200, which is further raised on a regular delay and is subject to a cumulative cap of 0.25% of the overall turnover in the respective State or Union Territory (UT). Thus any 0.25% rise will amount to a penalty of Rs. 100, both under the Central Goods and Services Tax (CGST) Act and the State Goods and Services Tax (SGST) Act.